Roy Jakobs, CEO of Royal Philips, has warned the European Union (EU) against imposing regulations that could stifle AI innovation.

Speaking at the ICT & Health World Conference in Maastricht on Jan. 28, he cautioned that Europe risks falling behind in the global AI race.

This warning comes as European firms struggle to compete with AI models from the US and China.

Jakobs, along with other industry leaders like Christian Klein, CEO of SAP SE, and Pekka Lundmark, CEO of Nokia Oyj, signed a letter urging the EU to delay further AI regulations unless they simplify the current framework.

The letter stressed the need for “clear and practical interpretations” to ensure that European competitiveness is maintained.